The Sketchbook of Wisdom

1 "T his is a maste r pi e c e .". - Morg a n H ou s el , Auth o r, Th e Psyc h o l o gy o f Mo n ey A H A ND- CRA F T ED M AN U AL O N T H E. P U RSU IT OF W E AL T H AN D G O O D L IFE. V I S HA L K HA ND E L W A L. THE Sketchbook OF Wisdom . A HAND-CRAFTED MANUAL ON THE PURSUIT. OF WEALTH AND GOOD LIFE. COPYRIGHT (C) 2021 VISHAL KHANDELWAL. ISBN: 978-93-5437-395-4. ALL RIGHTS RESERVED. NO PART OF THIS BOOK MAY BE REPRODUCED, STORED IN A RETRIEVAL SYSTEM, OR TRANSMITTED, IN ANY FORM OR. BY ANY MEANS, ELECTRONIC, MECHANICAL, PHOTOCOPYING, RECORDING, OR OTHERWISE, WITHOUT PRIOR PERMISSION. TO VIDHI, THE WISER ONE, WHO DID WHAT SHE HAD TO, TO MAKE SURE.

2 I DID NOT GIVE UP ON MY DREAMS. I WOULD NOT HAVE BEEN ABLE TO DO WITHOUT HER, AND THERE IS NOTHING I CAN'T FACE WITH HER. A NOTE FROM MANISH CHOKHANI. If you are reading this, you are probably someone motivated enough to I do think this book will find a place on every bookshelf that will ultimately have a collection improve yourself, and willing to invest time in doing so. comprising warren buffett 's snowball , Poor Charlie's Almanack, Peter Lynch's One Up on Wall Street, Mauboussin's Think Twice, Tim Ferriss's Tools Of Titans, Nassim Taleb's Black Swan and Antifragile, I am now in the 'vanaprastha' stage of my life, (the third of the four Almanack of Naval Ravikant and Morgan Housel's Psychology of Money on the one hand, and The chapters of life) defined as the time to be 'giving back' as per the Upanishads, The Gita, The Dhammapada or Yuval Harari's seminal book Sapiens, Daniel Kahneman's Indian scriptures.

3 Vishal is a decade or more younger than me, but he Thinking Fast and Slow, Cialdini's Influence and the musings of Steve Jobs, Elon Musk on the other. has been selflessly giving back to society for well over a decade already. His website has around 100,000 dedicated Vishal's Sketchbook is truly the starter kit you must read to get you started into the most wondrous subscribers and it has benefitted innumerable common investors who journey to discovering the greatest minds that lived and benefitting from their learnings and Wisdom . may have received his writing through other sources. "VISHAL'S Sketchbook IS AN The book is an inviting, accessible buffet of delicious brain and soul food.

4 Devour it, enjoy it, ruminate INVITING, ACCESSIBLE BUFFET OF on it .. and spread the word about it to all whom you love. As a teacher, Vishal is much sought after, as I can testify from DELICIOUS BRAIN AND SOUL FOOD. the requests, we at Flame University receive, to bring him back for DEVOUR IT, ENJOY IT, When you light a candle, you multiply the light. Pay it forward. repeated lectures and courses. RUMINATE ON IT.". ~ MANISH CHOKHANI With my best wishes, Sticking to his own personal learnings, Vishal shares stories and Manish Chokhani musings that could be called life lessons, moral values, and common sense on the one hand, and money Flame University Governing Board Member and investing basics on the other.

5 In doing so, he has created a deeply personal manual for life. I Director, Enam Holdings Pvt. Ltd. can only wish that I had chanced upon a book such as this when I was entering adulthood, as it would have set me on an accelerated journey of self-discovery and exploration of the greatest minds who left their lessons for us. The great Charlie Munger speaks about creating a latticework of mental models in one's head early in life. You can then draw upon those models depending on the situations you face in a manner that then becomes your common sense. Indeed, that is the purpose of a liberal education: to expose minds to the widest possible variety of human thought, and to train one to think for himself or herself, becoming lifelong learners.

6 In that sense, investing is the ultimate liberal art as one must comprehend factors from so many disciplines to become a successful investor. "YOU'VE GOT TO HAVE MODELS IN. YOUR HEAD. AND YOU'VE GOT TOVishal's book gets the young reader started on that journey. Imagine ARRAY YOUR EXPERIENCE - BOTH reading across philosophy, religion, history, economics, investing, science, and technology, in a simple manner that can provoke or shape your own VICARIOUS AND DIRECT - ON THIS. LATTICEWORK OF MODELS." common sense and beliefs. Vishal presents fifty ideas about Wisdom , ~ CHARLIE MUNGER common sense and investing .. that can be read individually, in no particular sequence by the casual browser, or collectively in one go by an avid reader.

7 It is a book that can be kept by a bedside for daily reading and reflecting upon, or a book that a young reader could keep as a manual that points to the true north on a variety of topics. I would especially recommend the Sources and Additional Reading sections as they list some of the greatest books that one could ever read. I recall finding my way over years through so many great books referenced by Vishal in this personal journey. He has summarized so many great thoughts in a simple, readable form in this book, along with hand drawn visualizations that make it easier for readers. 6 7. A NOTE FROM SANJAY BAKSHI. I have known Vishal for more than a decade.

8 Over those years, I watched with admiration his evolution as an investor, a blogger, a teacher, a philosopher, and a human being. In this Sketchbook of Wisdom , you will find another avatar of Vishal - that of an artist. People in the investment community have enjoyed "BUT WHEN YOU MOVE AMIDST THE WORLD OF SENSE, FREE. studying many of his beautiful illustrations on topics ranging from FROM ATTACHMENT AND AVERSION ALIKE, THERE COMES THE. materialism (how IPOs are priced) to spiritualism (how to become an PEACE IN WHICH ALL SORROWS END; AND YOU LIVE IN THE. investing Buddha.) Wisdom OF THE SELF.". "THE Sketchbook OF Wisdom ~ BHAGAVAD GITA, 2:64-65.

9 Like most students of Charlie Munger, Vishal too is a connector. He loves HAS ARRIVED AT THE RIGHT. to synthesize ideas from multiple disciplines in everything he does. In TIME - A TIME OF GLOBAL. this beautifully-crafted book, he has combined his worldly Wisdom CONFUSION. THE IDEAS IN. accumulated over the years with his love of art. You will find a synthesis THIS BOOK ARE TIME-TESTED. between stoic philosophers and the Upanishads, between Prospect Theory READ THEM AND FIND WAYS TO. in behavioral economics with Buddhism, and the ideas of warren buffett REMOVE THAT CONFUSION AND. with the Japanese philosophy of finding your Ikigai. (As I read the manuscript REPLACE IT WITH CLARITY.)

10 ". that Vishal sent to me, I could not help but smile and think: "Vishal has ~ SANJAY BAKSHI. truly found his 'ikigai.'"). The best books are ones which inspire you by their content on whatever page you open. This is one of those books. You can open it on any page - and I encourage you to do that - and you will find meaning THE STORY OF MANKIND IS IN YOU, THE VAST EXPERIENCE, THE. there. DEEP-ROOTED FEARS, ANXIETIES, SORROW, PLEASURE AND ALL. THE BELIEFS THAT MAN HAS ACCUMULATED THROUGHOUT THE. It is often said that when thinking about success, one should be wary of 'survivorship bias,' and Vishal MILLENNIA. YOU ARE THAT BOOK. too points this out in his book.